AUDIOLOGY DEVICES MARKET ANALYSIS

Market Challenges And Opportunities

Rising incidence of hearing impairments is expected to drive market growth

The audiology devices market holds a vast commercial base, as all the age groups varying from children to geriatric people can be affected by hearing problems. According to National Institute on Deafness and Other Communication Disorders (NIDCD), December 2016, around 2-3 in every 1,000 children in the U.S. suffered from an in-born detectable level of hearing loss in either one or both ears. Moreover, according to the reports of Hearing Loss Association of America (HLAA), 2017, around 20% of the population in the U.S., accounting for 48 million people are estimated to be suffering from some degree of hearing issues and hearing loss. As per statistical analysis conducted by World Health Organization (WHO), in 2016, hearing disorders affected around 360 million people around the globe, out of which, 32 million were children.